Do you plan on starting a business in Romania or, Would you like to move to Romania for better futuristic professional opportunities? Well, if your answer is yes; then this guide will help you out. For people seeking answers on how to open a micro company in Romania; you need to ensure that you obtain information on the various benefits and exceptions you are entitled to as a business owner.
The benefits of living and starting a business in Romania
As a business owner; you stand to gain a lot if you plan to start up a Romania micro company. In comparison to any other country like UK, France or Ireland; the cost of living in Romania is much cheaper. Mentioned below are some other benefits
Flat taxes and cheaper wages
The taxes that are paid for running or starting a business in Romania is a lot less because the counties has a 16% flat tax rate in comparison to most countries. Since you wish to set up a company in Romania; hiring people will not be an issue as hiring employed workers or subcontractors at a budget friendly rate.
Opening a business bank account
It is not only starting a business in Romania that is easy; however, you can even open the bank account very fast. The banking sector has a modernized and quick process and offers various perks for an entrepreneur. They also provide various financial plans and help for new businesses in the country.
Internet charges are not expensive
Even the internet slabs here are a lot cheaper than the rest of the world. For example, for mobile data of 15GB, you would pay close to €12 which is around $13.91. Similarly, 1GB of internet will cost you close to €10 or $11.60 (please note – Rate may differ based on the company and or revised charges)
Romania offers flexible regulations for businesses owners
Romania has a micro-enterprise program that is specially designed for small start-ups. Only the cooperation taxes are affected under this program. The VAT that is charged to the clients is not affected in any way. This is because a business owner is exempted from taxing the VAT if the sales they make do not exceed a certain limit. For further information on this front and how to open a micro company in Romania; you can speak to a Chartered Account or Tax lawyer.
For those who are planning on starting a business in Romania; you can stand to gain in two main sectors. People dealing with digital products or those who offer their own services are allowed to sell their services/products at a lot lesser rate than their competition. They can reduce their prices to around 19% of what the market rate is.
Other perks of owning a Romania micro company
It is not only starting a business in Romania that is easy; in fact, a business owner can also expand his/her business in any other EU country without too many issues.
Even the process of Foreign company management is a lot stressful than any other country in the EU region.
If you hire a local person to work for you, then the tax percentage that you would pay would be close to 1% of the overall sales you make.( Please Note- it is always better to seek professional help to get a better idea)
A final note on starting a business in Romania
Romania offers a wide range of perks for people who want to open a business in the country. The start-up process to set up a company in Romania is not difficult. Hiring a professional to help you out will only make it easy for you. However, you need to ensure that you do your research well to avail the benefits that the country has to offer.
Article Submitted By Community Writer